Think back to the ages of catalogs in the mail. Which ones did you get? Perhaps out of the few that you received, you got JCPenney, right? Not only that but you also received coupons or at least some sort of newspaper insert to introduce the next sale that was going on — and that, is still going on nowadays.
Now, I’m usually up on all of this kind of thing but had no idea what this retailer was trying to do (only because I live in a box now that I’m really busy).
JCPenney tried taking away all sales by doing ‘best price’ for a month.
Now, could you imagine? Could you imagine if you were the big box retailer who always sent coupons and ads in the paper/mail to advertise sales – and then – it suddenly stopped? Wouldn’t you think the store had packed up and left?
What were they thinking? For a company who relies on that kind of business through mail inserts advertising sales, that was such a stupid move.
Not to mention, the new CEO is from Apple, which holds a much different standard. There are straight up prices, no sales, and only sales when something is needing to be pushed out the door before the new Apple product arrives.
Instead of looking at the big picture, the new CEO decided to step in without really thinking. People rely on sales being advertised so that they can go to the store and get items on sale. With no advertisement, who would be dropping by? Perhaps the few people in the mall who swoops in and back out? As you read in the article linked above, traffic in the store dropped.
I would put JCPenney in the same category as Sears. They have been around probably about the same time, both put out catalogs, both carry some sense of the same brand and so on. Not only on the store front would I compare JCPenney to Sears but I would do some comparing about how they are so close to failing.
What’s so unique about JCPenney and Sears? Not too long ago, I did a write up about how Sears is going down the drain.
Price write up has been something that is being talked about a lot these days. For me, buying clothes is like a dodgeball game, I try to dodge every single high price and don’t buy anything unless it’s ridiculously on sale. For people who work in retail, you know what’s going on – do you want to fall into that hole?
Bottom line: JCPenney is a bit outdated for these days. Now we have all kinds of speciality stores, cheaper places to shop, thrift stores, and better big box stores.
I’m just waiting for JCPenney to close, just like Sears.
What’s your opinion on the new way that JCPenney tried to do things?